Strauss-Kahn covets lender-of-last-resort role

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The International Monetary Fund (IMF) must take on the mantle of global lender of last resort if the world is to avoid a build-up of the imbalances that lay at the root of the crunch, Dominique Strauss-Kahn, its managing director, has said.

Speaking in Istanbul on Friday, Strauss-Kahn said it was essential for the Fund to undertake the role in order to remove emerging economies' desire to hold reserves as insurance.

"We need a global lender of last resort to act as an anchor on stability," Strau

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